Wednesday, September 25, 2019 10:42:13 AM
BY PR Newswire
— 9:33 AM ET 09/25/2019
DENVER, Sept. 25, 2019 /PRNewswire/ -- Diego Pellicer Worldwide, Inc. , the premium marijuana brand and development company, today announced that it has executed a letter of intent to purchase a second cannabis cultivation facility in Denver. The fully upgraded, 16,279 square-foot cultivation facility produces approximately 2,650 pounds of medical and recreational cannabis per year.
"We have been aggressively implementing our new business model which includes direct ownership in cannabis operations. Diego Pellicer Worldwide ( DPWW
Loading...
Loading...
) has announced letters of intent to purchase a retail location, processing facility, a cultivation facility and now, this second cultivation facility," said Ron Throgmartin, chief executive officer, Diego Pellicer Worldwide, Inc. ( DPWW
Loading...
Loading...
) "With this second facility, Diego Pellicer Worldwide ( DPWW
Loading...
Loading...
) will have more than 29,000 square feet of space producing more than 4,500 pounds of cannabis each year. We look forward to working with the Colorado Marijuana Enforcement Division to garner approval for Diego Pellicer Worldwide ( DPWW ) to become a fully licensed cannabis company."
The letter of intent for the first cannabis cultivation facility in Denver was announced on Sept. 10, 2019. That modern, 13,000 square-foot cultivation facility produces approximately 2,000 pounds of cannabis per year.
The non-binding letter of intent is subject to compliance with the Colorado Marijuana Enforcement Division and House Bill 19-1090. The letter of intent will be followed by a contract once rulemaking for Colorado House Bill 19-1090 has concluded and the Marijuana Enforcement Division has issued regulations guiding the process for public companies and out-of-state investors to apply for cannabis licensing ownership. The completed regulations and application process are expected in November 2019 after the final public comment hearing is held on Oct. 8. Diego Pellicer Worldwide, Inc. ( DPWW ) has been actively engaged in the rulemaking workgroups, working alongside other stakeholders to assist and help complete the rulemaking process.
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM